Re: Whoops. Over limit on my Chase (WAMU) Card

I'm not too worried one way or the other.

If Chase is going to be so sensitive to a minor issue, I'm not going to lose any sleep.

On the other hand, I guess my account is still open/active, since they put through another charge and authorized it over the limit. I would have guessed them to deny the charge if there were insufficient available credit.

I think I'll move some stuff over to another card and use this one a little less, cut it down to $2k per month instead of $3k +. I was just trying to maximize rewards to get to the $250 for $200 deal. But $39 of that just went down the toilet

Re: Whoops. Over limit on my Chase (WAMU) Card

txjohn wrote:

On the other hand, I guess my account is still open/active, since they put through another charge and authorized it over the limit. I would have guessed them to deny the charge if there were insufficient available credit.

This is one of the issues the new credit card legislation is supposed to fix. For quite a while now ccc have allowed consumers to go over the limit "as a courtesy". My understanding is that when teh new rules take effect the consumer will have to opt in to allow charges which would put them over-the-limit to go through. Frankly it is one of the best features of the new cc bill--IMO.

Re: Whoops. Over limit on my Chase (WAMU) Card

cobaltnv wrote:

txjohn wrote:

On the other hand, I guess my account is still open/active, since they put through another charge and authorized it over the limit. I would have guessed them to deny the charge if there were insufficient available credit.

This is one of the issues the new credit card legislation is supposed to fix. For quite a while now ccc have allowed consumers to go over the limit "as a courtesy". My understanding is that when teh new rules take effect the consumer will have to opt in to allow charges which would put them over-the-limit to go through. Frankly it is one of the best features of the new cc bill--IMO.

Re: Whoops. Over limit on my Chase (WAMU) Card

I did something similar with BofA during a month with 3 paydays. I used to pay $500 every two weeks on a 0% BT. In a month with an extra paycheck (five Fridays, in other words), I skipped the payment on the first Friday to use on something else. I forgot exactly how it all worked out, but with an additional brain fart, er, senior moment, or two, I missed a minimum payment due. Ironic, as I was paying $1000/ month on an account with a minimum payment of $84.

Anyway, after dampening my drawers something fierce, I called CS and babbled and groveled, and they took the payment over the phone and didn't cancel my 0%. But I'll tell you what, when you can pay 6 times over the minimum and still somehow wind up with a missed payment, it just shows how complicated things can get.

Re: Whoops. Over limit on my Chase (WAMU) Card

txjohn wrote:

I'm not too worried one way or the other.

If Chase is going to be so sensitive to a minor issue, I'm not going to lose any sleep.

On the other hand, I guess my account is still open/active, since they put through another charge and authorized it over the limit. I would have guessed them to deny the charge if there were insufficient available credit.

I think I'll move some stuff over to another card and use this one a little less, cut it down to $2k per month instead of $3k +. I was just trying to maximize rewards to get to the $250 for $200 deal. But $39 of that just went down the toilet

I would call and ask to get the $39 charge reversed. Wasn't it nice of them to accept the charge and allow you to go over the limit. Quite a courtesy huh?

Re: Whoops. Over limit on my Chase (WAMU) Card

Hauling,

I did the same thing a couple months back. I make more than enough to live well during the year, however, last year I had some unexpected charges and had to use up a good chunk of my savings... Up to that point, I had charged up over 5k a month on my BofA card and PIF before statement. Well, I just moved into a new apt about 8/9 months back and didnt have the full amount in cash to buy all the appliances but knew I could pay it off in a month or two - go to use the card at the register and DECLINED.

I call in and they said I didnt make the min payment this month... Turns out, I had missed one payment going through that went on after statement cut and therefore reported a balance of $33... and i didnt make the 10min payment - I could have hit myself - 10 min payment and for the past 12 months or more had charged 3k-5k and PIF - who knows... we all have those days - I wouldnt worry TXJohn

P.S.

If you have a visa sig or world mastercard, you could solve that problem of overlimit fee's... I only have one visa signature, but Ive gone over several times on accident - usually on vacation (once by over $2000) and I was never charged a thing - I just had to get my balance below my CL within 30 days or they would then start charging me fees

Re: Whoops. Over limit on my Chase (WAMU) Card

Paid the balance off today online.....I hate those over limit fees. Had a $687 charge come in that I was not expecting till next week after my balance would be paid off and in new statement cycle.

I called CSR and explained that I noticed my account was over limit so I had just made an online payment for the entire balance. She thanked me for the payment.

I asked if the online ACH was adequate or if I should make a branch payment to get it under limit sooner. She said the online payment was adequate because the late fee was all ready charged and nothing could be done about that.

I told her that the late fee I wasn't worried about, I was curious if this would trigger adverse action on the account. She said she didn't see any signs of trouble and thanked me for making my online payment for the account balance.

I guess we'll see if Chase is looking for excuses to close my account.

Message Edited by txjohn on 08-07-2009 07:14 AM

What she was really thanking you was for your over limit fee. By telling you there were no signs of trouble she was telling you that she hoped you would go over your limit again and again, and once you stopped going over your limit, all "no signs of trouble" bets were off.

No excuses here. They are making good money off you, they won't close you.

Re: Whoops. Over limit on my Chase (WAMU) Card

Okay, something has changed at Chase.

First, my card used to be declined if the charges were for more than limit. My wife (AU) had attempted to use the card for charges a few times that were declined due to being more than available credit. This time Chase approved the charges beyond the limit.

Second, Chase has always credited my online payments 2 to 3 days later. I mean, they would post the payment, but my "available credit" was not increased for several days and not until the ACH had cleared my bank by a couple days. Last night Chase posted my payment and gave me immediate credit availability. I checked my bank account and the ACH has not hit my account yet.....Chase has NEVER given me available credit prior to the ACH clearing and they have always held the funds for several days.....yesterday I made the payment and they posted it same day and gave immediate available credit.....

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